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Gnosis Chain is EVM-based and secured by at-home stakes around the world. It is a decentralized prediction market built on Ethereum.
Architecture
Gnosis is an open peer-to-peer network of nodes operated by anyone in the world who runs the Gnosis client software. There are two layers
Execution layer - It is the legacy xDai "Eth1" network. The Execution Layer is where smart contracts the EVM and network rules reside.
Consensus layer- It is the same as Ethereum's Consensus layer and is a key sister chain to Ethereum. It is responsible for Proof-of-stake incentives, and maintaining consensus.
On 8th Dec 2022, the current execution layer was merged with the Beacon chain.
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Period |
Ethereum |
Gnosis |
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Pre-Merge Consensus |
Proof-of-Work |
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Post-Merge Consensus |
Consensus Layer |
Consensus Layer |
Gnosis Apollo-
Gnosis Apollo is a collection of packages that allows you to roll your Prediction Market Interface or Prediction Market Tournament based on the Gnosis Prediction Market Framework
Consensus mechanism-
Gnosis uses a conditional token mechanism to predict future events. Conditional Tokens are a new, application-agnostic, asset class designed to facilitate the creation of highly liquid prediction markets.
Gnosis Safe-
Safe is the most trusted platform to manage digital assets on Ethereum and EVM. Safe consists of three major components. It is a multi-signature wallet that requires a minimum number of people to approve transactions. It helps to secure users' assets holdings.
GNO token- GNO is the staking token of Gnosis and the governance token for the GnosisDAO.
Owl token- It is the premium token generated by GNO tokens for creating prediction markets.
Gnosis Olympia- It is the dApp of Gnosis which is used to gather data from experts and people all over the world on the outcomes of prediction markets.
Gnosis blockchain features-
Gas fees- $0.0001 per 100K gas
Uptime- 100%
Block time- 5 sec
GNOUSD is consolidating after jumping more than 40% the previous month. The pair holds well above the short-term (21 and 55 EMA) and long-term moving average. It hit a high of $261.62 and is currently trading around $230.21.
The bullish invalidation can happen if the pair closes below $175. On the lower side, the near-term support is $225. Any break below target $200/$175. Any breach below $175 targets $148/$100
The immediate resistance stands at around $262. Any breach above confirms bullish continuation. A jump to $275/$288 is possible. A surge past $288 will take it to $300.
It is good to buy on dips around $203-205 with SL around $175 for TP of $262/$288.
